Posted by: kenwbudd | September 27, 2009

Michelle Singletary – The Color of Money: Overdraft ‘Protection’ Is Anything But – washingtonpost.com

Michelle Singletary – The Color of Money: Overdraft ‘Protection’ Is Anything But – washingtonpost.com

Who’s the greater villain: the guy at a bar who has one drink too many or the bartender who sold him that drink?

If you think there’s enough blame to go around, you’ll agree there are two wrongs and two rights on the controversy surrounding bank overdraft protection fees.

It’s wrong for financial institutions to prey — and that is what they are doing — on the carelessness of their customers.

It’s also wrong for customers to complain about overdraft fees that they can largely avoid — by keeping track of what’s in their accounts and not overspending.

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